United States Oil Fund (NYSEARCA:USO) Shares Gap Down – Should You Sell?

United States Oil Fund LP (NYSEARCA:USO) gapped down prior to trading on Monday . The stock had previously closed at $129.17, but opened at $120.80. United States Oil Fund shares last traded at $119.92, with a volume of 2,345,353 shares traded.

Trending Headlines about United States Oil Fund

Here are the key news stories impacting United States Oil Fund this week:

• Positive Sentiment: WTI and Brent stabilized or rebounded in early trading as traders continued to monitor Middle East supply disruptions and technical support near their 200-day moving averages. Persistent disruption risks could limit further downside for oil and provide support for USO. Natural Gas and Oil Forecast: WTI and Brent Rebound as Middle East Supply Risks Persist
• Positive Sentiment: U.S. shale producers are expected to report their strongest quarterly profits since 2022 after the Iran conflict lifted crude prices. Although the report primarily benefits producers rather than USO, it underscores how geopolitical risks can support oil prices. War-fueled oil rally set to lift shale profits to highest since 2022
• Neutral Sentiment: Investors are also watching the July employment report. Strong payroll growth could reinforce expectations for higher-for-longer U.S. interest rates, potentially affecting commodities and the dollar, while weaker data could support oil investment sentiment. Stock, Oil Futures Set to Trade as Markets Begin a New Month
• Negative Sentiment: Oil futures fell after President Donald Trump canceled planned strikes on Iran while pursuing a nuclear agreement that could reopen the Strait of Hormuz. The prospect of reduced military escalation and restored shipping flows lowered the geopolitical risk premium supporting crude. Oil tumbles as Trump cancels attack on Iran to reach nuclear deal
• Negative Sentiment: OPEC+ approved an additional September production increase of approximately 188,000 barrels per day, completing the rollback of voluntary cuts. More available supply could pressure crude prices and USO. OPEC+ agrees to September oil hike
• Negative Sentiment: Reports of possible Hormuz diplomacy caused crude futures to drop sharply, as traders focused on the potential restoration of shipments, OPEC supply increases and inventory data. Oil News: Crude Oil Futures Drop 8% as Hormuz Deal Hopes Outrun Ship Flows

United States Oil Fund Stock Performance

The stock has a 50-day moving average price of $121.94 and a two-hundred day moving average price of $112.99. The stock has a market capitalization of $1.84 billion, a PE ratio of 19.22 and a beta of -0.01.

Institutional Trading of United States Oil Fund

A number of hedge funds and other institutional investors have recently modified their holdings of USO. Hamilton Wealth LLC bought a new position in United States Oil Fund during the 1st quarter valued at about $55,001,000. Bank of America Corp DE lifted its stake in United States Oil Fund by 117.1% in the first quarter. Bank of America Corp DE now owns 143,881 shares of the company’s stock worth $18,309,000 after purchasing an additional 77,617 shares during the last quarter. Caption Management LLC bought a new stake in United States Oil Fund in the fourth quarter worth about $5,201,000. Harvest Fund Management Co. Ltd boosted its position in shares of United States Oil Fund by 33.9% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 239,149 shares of the company’s stock valued at $17,030,000 after buying an additional 60,569 shares during the period. Finally, Parker Investment Management LLC purchased a new position in shares of United States Oil Fund during the first quarter valued at approximately $6,364,000. 67.47% of the stock is owned by hedge funds and other institutional investors.

About United States Oil Fund

United States Oil Fund, LP (USO) is a commodity pool that issues limited partnership interests (shares) traded on the NYSE Arca, Inc (the NYSE Arca). The investment objective of USO is for the daily changes in percentage terms of its shares’ per share net asset value (NAV) to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in the price of the futures contract for light, sweet crude oil traded on the New York Mercantile Exchange, that is the near month contract to expire, except when the near month contract is within over two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire, less USO’s expenses.